Czech PPF launches bid for drugs maker Zentiva
May 2nd, 2008 | by admin |PRAGUE, May 2 (Reuters) - Czech investment group PPF said onFriday it planned to launch a 950 crown per share bid forgeneric drugs maker Zentiva (ZNTVsp.PR: Quote, Profile, Research), valuing the company at36.2 billion crowns ($2.2 billion).
It said it was acting in concert with PPF Generali Holding,an insurance joint venture of PPF and Italy’s Generali(GASI.MI: Quote, Profile, Research).
The joint venture already holds a 19.1 percent share inZentiva, which is 24.9 percent owned by Sanofi-Aventis (SASY.PA: Quote, Profile, Research)of France.
The bid valued Zentiva at 1.9 percent above Friday’s close. (Reporting by Jan Lopatka; Editing by David Holmes)
